Football Team Captain Makes a Long Play

Tim Gibbons

Tim Gibbons '73

As co-captain and quarterback of an undefeated football team and co-captain of the St. Louis University High School state championship soccer team, Tim Gibbons ’73 shared a lot of his gifts with the school. But like so many others, Gibbons believes what he received from SLUH far exceeded what he gave to it.

Recently retired from a career in sales, Gibbons reflects that the values the school instilled were the greatest gifts—now recognized through the perspective of distance and years.

“I was brought back to the basics of becoming a successful person, which included empathy for others, humility to seek help when needed and self-confidence to understand that what we say to each other can be meaningful,” said Gibbons.

This recognition moved Gibbons to want to make a meaningful contribution to SLUH, specifically to the Class of ‘73 Endowed Scholarship. He realized that he could make a much larger gift from his estate than he could contribute in cash today, and chose to name SLUH as a partial beneficiary of his IRA.

“This was the easy part,” he says. “I merely changed this beneficiary allotment on one of my IRA Rollover accounts. My son is also a SLUH alumnus and my daughter is a Nerinx Hall alumnae, and both are doing well in their personal and business lives. They will be the main recipients of our estate, and both of them, along with my wife Sue, have encouraged me to move forward with this estate gift.”

Gibbons’ commitment to SLUH and to the class of ’73 will bolster financial aid support for many generations to come. When asked what he values most about SLUH, he says: “Even though it took a while to sink in, the thought is that I truly could be a Man for Others.”

And that wins the game, every day.

For those considering a planned gift, remember that SLUH serves young men based on their ability to succeed, rather than their economic circumstances. Your generous legacy gift will directly impact our students. Please contact Linda Domeyer at (314) 269-2113 or ldomeyer@sluh.org to learn more.

A charitable bequest is one or two sentences in your will or living trust that leave to St. Louis University High School a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

UNRESTRICTED USE AND PURPOSE
"I, [name], of [city, state, ZIP], give, devise and bequeath to St. Louis University High School [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

RESTRICTED USE AND PURPOSE
"I, [name], of [city, state, ZIP], give, devise and bequeath to St. Louis University High School [written amount or percentage of the estate or description of property] for [scholarship name or another specific purpose]."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to SLUH or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to SLUH as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to SLUH as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and SLUH where you agree to make a gift to SLUH and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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